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Unit 4
financial information
| Term | Definition |
|---|---|
| ATM | an electronic machine from which cash deposits and withdrawals can be made |
| bank reconciliation | bringing into agreement a bank statement with a party's cash account records |
| blank endorsement | an endorsement that consists only of the endorser's signature on the back of a check |
| cash | refers both to actual cash, checks, money orders, and funds in checking accounts in a banking institution |
| cash over | relating to a petty cash system by which there is a cash discrepancy showing more money on hand than the related records indicate |
| cash short | relating to a petty cash system by which there is a cash discrepancy showing less money on hand than the related records indicate |
| check | a written order to a bank to make payment against the depositor's funds in that bank |
| checking account | a bank account from which payments can be ordered by a depositor |
| commission | a fee paid to an employee, usually based on a percentage of the value of what the employee sells or possesses |
| deduction | an item that reduces gross pay earned by an employee |
| deposit | the placement of cash into an account |
| depositor | the individual who places cash into an account |
| electronic banking | use of a computer and a telecommunications network to transfer funds from one fund to another |
| electronic funds transfer | the use of a computer and a telecommunications network to transfer funds from one party to another |
| employee earnings record | a business form used to record details affecting payments made to an individual |
| endorsement in full | an endorsement found on the back of a check indicating the new owner of a check. special endorsement |
| gross pay | salary paid to an employee before any deductions are withheld |
| hourly wage | the amount of money an employee earns for each hour of work |
| net pay | the total earnings paid to an employee after deductions are withheld |
| overtime pay | the amount of pay an employee receives as an incentive for working over the regular work day or work week |
| payroll | the total amount earned by all employees for a pay period |
| payroll register | a business form used to record payroll information on all employees for a pay period |
| petty cash record | a form used in a petty cash system used to record ass disbursements and reciepts |
| petty cash summary report | a form used in a petty cash to summarize expenditures |
| petty cash system | a system established by a business that keeps a small amount of cash on hand for amking small payments |
| regular pay | an amount paid to an employee for performing work excluding overtime and commision pay |
| replenish | relating to a petty cash system by which the cash box amount is restored to its original level of cash |
| restrictive endorsement | an endorsement found on the back of a check restricting further transfer of a check's ownership |
| salary | the money paid for employees services |
| signature card | a bank document prepared by an account holder that is a key to the bank account security that documents who may sign checks on particular bank accounts |
| special endorsements | an endorsement found on the back of a check indicating the new owner of a check. |
| time card | a card that is required of employees to record their arrival and departure times for payroll purposes |
Created by:
jeffrey.walker
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